Trust Companies Volume 4

Trust Companies Volume 4

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1907 edition. Excerpt: very much larger than in any other city, and the securities of the larger corporations in the country are most widely dealt in upon the floor of the Stock Exchange there. Correspondence with a number of trust companies in New York and Boston showed the following variety in the form of the endorsement on the face of the stock certificates, where the trust company acts as registrar, it being understood, of course, that the endorsement is dated and signed by the trust company: Registered Seven companies Entered Two Registrar One company Agent to Register Transfers One" Registrar of Transfers One" Countersigned One" Countersigned and Registered. One" Where the word "countersigned" is used the word "registrar" follows the name of the trust company. These data are gathered from the usage of only a few trust companies, but they are fairly representative of the lack of uniformity which prevails among trust companies generally. I. Nature Of Liability Of Registrar. The matter of the duties and liabilities of the trust company as registrar, and also as transfer agent, has been made the subject of three papers read before the Trust Company Section of the American Bankers Association. The writers of these three papers agree that the liability of the trust company as registrar has not been definitely fixed, either by statutes or by decisions of the courts. They all discuss what they think the courts are likely to decide as to this liability. Unfortunately, for those who look to these papers for advice, the writers do not come to the same conclusion. Without attempting to state thein conclusions with exactness, it is apparent that one of the conclusions is: 1. That the trust company, as registrar, acts merely as the...
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Product details

  • Paperback | 268 pages
  • 189 x 246 x 14mm | 485g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236594347
  • 9781236594341